Real estate company offers prospective home buyers chance to ‘buy before you sell’


Portland, OR (KPTV) – Potential homebuyers seeking to get into Portland’s aggressive housing market now have the choice of providing to purchase with money by an organization now doing enterprise within the Portland Market.

The corporate, Orchard, affords homebuyers the chance to purchase their subsequent dwelling earlier than they promote.

“You get pre-approved, not only for a mortgage, but in addition to turn into a money purchaser by Orchard House Loans. And once you go make a suggestion on that home, you’re backed by Orchard money,” stated Orchard CEO Courtroom Cunningham.

Orchard basically buys the house for money, then sells it again to the purchaser as soon as they promote their current dwelling.

“Within the outdated world, which is what most individuals cope with as we speak, it’s important to promote your outdated dwelling first, go put your stuff in storage, and discover short-term housing, as a result of you want to do this to unlock your property fairness that you want to purchase the brand new dwelling and you then purchase the brand new dwelling. We reverse the order,” stated Cunningham.

Orchard claims to supply this service at no further price, solely customary brokerage, title, and mortgage charges, which the corporate handles in-house.

The corporate has an A+ ranking with the Higher Enterprise Bureau, however on-line opinions are blended, with some shoppers suggesting Orchard wasn’t motivated to get them the best worth on their current dwelling, leaving them with a “assured” supply beneath market worth.

“Any time you have got somebody on each side of a transaction, there’s the chance for them to not essentially have the vendor’s greatest curiosity in thoughts,” stated Trevor Salas, an actual property guide who additionally buys properties for money within the Portland space. “My greatest phrase of warning can be simply because the very first thing you take a look at seems to be good, don’t essentially make your resolution straight away. Do your homework, discuss with some folks and determine, primarily based on my distinctive circumstances, what’s in my greatest curiosity for this transaction.”

Orchard clients work straight with native realtors, who’re additionally Orchard staff.

The corporate additionally affords what it describes as “mild repairs,” on potential patrons’ current properties, with the situation that they’ll should pay the corporate again as soon as the house sells.

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